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This statistic highlights Cinemark’s Revenue by Segment, split between US and International, reported on a quarterly basis from Q1 2016 onwards.
|Segments||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All the figures in millions, except percentages)
There has been a significant increase in overall revenue from $35.48 million in Q3 2020 to $434.82 million in Q3 2021, marking a growth of approximately 1125.54%. It also grew by approximately 4747.49% compared to Q2 2021.
The international segment consists of operations in Brazil, Argentina, Chile, Columbia, Peru, Ecuador, Honduras, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. The revenue is derived from admission and concession sales and other ancillary revenues. The international segment has over 200 theaters and 1,451 screens.
Revenue increased from $1.07 million in Q3 2020 to $59.29 million in Q3 2021, marking a growth of 5441.12% on a year-on-year basis. It also grew by 7130.49% compared to Q2 2021. This increase was due to the opening up of theaters in many countries. Other revenue included screen advertising and loyalty membership revenues. This segment contributed 14% to the total revenue in Q3 2021.
The company operates 331 theaters and 4,507 screens in 42 states of the US. The company started its operations in the US in 1984 and has expanded primarily organically with two acquisitions. Now, the company operates in around 105 designated market places which includes Texas, California, Ohio, Utah, Colorado, etc.
Revenue increased from $34.41 million in Q3 2020 to $375.53 million in Q3 2021, approximately by 991.34%. But there has been a decline in the contribution made by the US market from 97% in Q3 2020 to 86% in Q3 2021. It grew by 4502.08% compared to Q2 2021 on a quarter-on-quarter basis. This increase is due to new releases such as Shang-Chi and the legends of the Ten Rings, Black Widow, Jungle Cruise, Free Guy, F9: The Fast Saga, and The Space Jam: A New Legacy. Other revenue included amortization of NCM screen advertising advances, screen rental revenue, promotional and trailer placement income related to the new film release, and transactional fees. This segment contributed 86% to the total revenue in Q3 2021.
Impact of Covid-19
Covid-19 had an unprecedented impact on the entertainment industry. As in theatres, the patrons gather in close proximity; the company continued to be impacted by the Covid-19 outbreak. To comply with Government mandates, the company temporarily closed all its theaters in the US and other countries and non-essential operating and capital expenditure were halted. As of September 2021, all the Company’s theaters were open but operating with lower staff levels compared to pre-Covid levels due to reduced operating hours in certain locations. Company continues to limit its capital expenditure to essential activities. It also renegotiated terms with its landlord to extend payment terms as it opens the theatres.
Cinemark operates in the motion picture exhibition industry and offers a variety of content at its theaters . It plays films from different genres such as animated, family, horror, comedies, dramas, and action films. The company operates around 521 theaters and 5864 screens worldwide. The company started its operation in the year 1984 and is headquartered in Plano, Texas, in the Dallas-Fort Worth area. It is the largest movie theater chain in Brazil with approximately 30% market share. It operates under several brands such as Cinemark, Century Theatres, Tinseltown, CinéArts, and Rave Cinemas.
Cinemark also entered into an agreement with Warner Bros, Walt Disney to establish how long the movie will be shown in theaters before it is available for home videos.
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